Why private health insurance is an investment, not a cost

Ask anyone who has ever made an insurance claim to cover an important medical procedure and you’ll hear a ringing endorsement of the value of private health insurance. Having private health insurance gives your clients power to make decisions that need to be made.

Thursday, June 7th 2018, 11:42AM

Decisions that will ensure that the situations they may face can be dealt with in a timely and thoroughly appropriate manner.

It offers control over the treatment they receive, when they receive it and who administers that treatment on their behalf. In short, private health insurance shouldn’t be viewed as a cost, but as a necessary investment in quality of life.

Let’s look at the reasons why private health insurance makes sense.

Firstly, it offers greater choice. Your clients can choose who they receive treatment from and, in consultation with their GP or Specialist, when and where.

There’s also less waiting involved. Spending time on hospital waiting lists while their health may be deteriorating or secondary effects developing can be difficult and emotionally draining for people. If they’re experiencing pain, the impact can be even more difficult.

There’s less worry, which is not to say that there is no worry at all. But at a time of heightened stress, the individual and their family should be able to focus totally on treatment and recovery, not the often-difficult details.

Having private health insurance also relieves the likelihood of lost income or the need for financial support if the person experiences long-term bad health. It can equally affect supportive family members as well. If they end up paying for treatment themselves, costs can also quickly mount up.

On a more positive side, private health insurance opens up the way for leading edge treatments that may otherwise be out of reach. Health practices and procedural options are advancing rapidly. Having access to those new methods could make all the difference.

And finally, having private health insurance promotes increased certainty and confidence in the future, without the mental burden of how to afford treatment should the need arise. All things considered, private health insurance is something all of us should have.

Find out how nib is helping make health insurance more affordable and accessible for more New Zealanders every day with their market leading health cover, and recent product upgrades on Ultimate Health Max, Ultimate Health and Easy Health at nibadviser.co.nz/documents